"Plans are nothing, planning is everything."
- Dwight D. Eisenhower

As companies have been embracing, implementing and executing Open Innovation strategies as a means of innovation and achieving growth they also have been striving to better monitor their Open Innovation efforts and initiatives with respect to relevance and contribution to the business.

Cheryl Perkins, Founder and President of Innovationedge, members of the Innovationedge team and other innovation leaders will be discussing the importance of instilling financial discipline early into the processes. The group will provide a relevant and practical discussion on how to improve your financial measurement practices and, as a result, boost return on innovation investment.

You will learn that scenario planning and financial modeling is important for many reasons besides valuation, including the following:

• Introducing more marketing insight upfront and leveraging cross-functional teams to better define and align R&D / OI projects to the overall business strategies and growth objectives

• Employing good judgment and making sound decisions based on available information and in the face of uncertainty

  • Identifying projects that make sense and those that do not

• Aligning cross-functional teams and stakeholders, managing expectations and securing funds and resources at the various stages

• Structuring and negotiating an OI deal that makes sense and strikes an appropriate risk reward balance

  • Helping to breakthrough deal structure / negotiation impasses

• Tracking the R&D's / OI's contribution--in the face of uncertainty before, during and after launch

• Managing the R&D / OI Portfolio

  • Allocating the appropriate resources and striking the mix / balance…what projects to initiate, accelerate, slowdown, pause and terminate

• Answering the question--what does it mean to the business!

  • Improving return of Innovation Investment

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Cheryl Perkins  is a thought leader in innovation and a creative catalyst in brand-building initiatives that contribute to rewarding consumer experiences and improved business performance. She was identified as one of the Top 25 Champions of Innovation by BusinessWeek magazine in 2006. As President of Innovationedge, she is leading companies across many industries to build sustainable innovation capabilities and define sustainable growth opportunities. Her work involves designing and implementing organizational structures, processes, systems and tools that enable open innovation and growth. Cheryl has over 23 years experience directing growth and innovation and most recently served as the SVP and Chief Innovation Officer for Kimberly-Clark Corporation.

Jeff Lindsay is Director of Solution Development at Innovationedge and is a registered U.S. Patent Agent and a leading expert in Intellectual Asset law and strategy. Prior to joining Innovationedge, Jeff was the Corporate Strategist and Senior Research Fellow at Kimberly Clark Corporation and was granted 101 US patent. While at Kimberly Clark, Jeff developed and advanced the concept of "Disruptive Intellectual Asset Strategy," where intellectual assets are used to overcome normal barriers to disruptive innovation. Jeff founded and chaired an Intellectual Asset group dedicated to identifying and protecting "business methods," and guided Kimberly-Clark in pursuing an aggressive publications strategy.

In this interactive dialogue, Stefan Lindegaard will outline key elements in defining, structuring and implementing an open innovation strategy.

Key issues to be examined will include:

• How to transition from a closed to an open innovation approach

• How to fit open innovation into your overall innovation strategy

• Identifying current pockets of open innovation that may already be percolating within your organization and taking them to the next level

• What new skills are required to make your open innovation initiatives successful and how will you shift the company mindset and culture to support OI?

• What are the key issues to address when it comes to IP rights and Open Innovation?

Effective strategies for large and small companies to partner. Innovation leaders from Whirlpool and Medtronic will share their insights and lessons learned on how to get started, how to avoid common pitfalls, how to measure OI performance and how they intend to get more from their OI investments.

Guest Presenters:
	Jeff Bartley Director, Global Alliances Whirlpool Corporation		Mike Hess Vice President, Innovation Excellence, Medtronic

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Stefan Lindegaard is a speaker, network facilitator and strategic advisor who helps companies on topics such as open innovation and intrapreneurship as well as how to identify and develop the people who drive innovation. He is the founder of several network groups for people working on the intersection of leadership and innovation and he runs the LinkedIn community Leadership+Innovation with more than 800 global innovation leaders.

Stefan has conducted  sessions on open innovation in Europe, the U.S. and China. He has also worked with innovation leaders in global companies such as Bang & Olufsen, Danfoss, Lego and Novozymes.

Open innovation is transforming the nature of product development. To compete effectively in today's business environment, firms are using strategic alliances to link their resources with those of other world-class organizations. They start by focusing on replacing the "not invented here" syndrome with the "invented anywhere approach". Unfortunately, many Co-Development alliances fail. Managers from the start must deal with the complexities of cooperatively developing intellectual assets, linking decision-making structures and building cross-corporate innovation networks. Dr. Slowinski's 25 years of work on over 300 CoDev alliances led him to identify key best practices for a novice or veteran of open innovation. He will present a set of simple, but powerful management tools and metrics. Many firms use these tools to increase the value of both their individual alliances and their alliance portfolios.

What you will learn:

• Starting out - organizational structures that can help or hinder open innovation

• How to use the 25% rule as a financial model to share risks and rewards in open innovation relationships

• How to start implementing "open innovation" by using the "Want, Find, Get, and Manage Model"

• How firms can start accelerating their product development performance using Co-Development

• Lessons from failures; common pitfalls and how to avoid them

• Effective strategies to resolve cultural differences in alliances from the get go

• Proven tools, metrics, and management techniques for successfully implementing "open innovation" relationships such as the Alliance Framework® and the Alliance Implementation Programs

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Gene Slowinski is the Director of Strategic Alliance Research at the Graduate School of Management, Rutgers University and Managing Partner of the Alliance Management Group, a consulting firm devoted to the formation and management of strategic alliances, mergers and acquisitions. Prior to forming the Alliance Management Group, he held management positions at AT&T Bell Labs and Novartis. For the last 25 years Dr. Slowinski has consulted and conducted research on the formation and management of strategic alliances, joint ventures, mergers, and acquisitions. He is co-author of the book "The Strongest Link" and his most recent book, "Reinventing Corporate Growth" is the leading book on growing the corporation.